MOBILE USERS: m.isthmus.com
Connect with Isthmus on Twitter · Facebook · Flickr · Newsletters · Instagram 
Monday, September 1, 2014 |  Madison, WI: 77.0° F  Mostly Cloudy
Collapse Photo Bar

T.Wall: Obama a Socialist

If it doesn't fit anywhere else, it fits here

T.Wall: Obama a Socialist

Postby Stu Levitan » Thu Apr 09, 2009 11:19 am

From Terrance's Up Against the Wall column, In Business magazine, April 2009:

"I can't stand by and not say something. Either out of arrogance or incompetence, Obama is headed in the wrong direction. He can claim that he inherited this economy, but the truth is that he turned the recession into a depression. He owns this problem now.

"What's become apparent to me is that Obama (and Pelosi and Reid) and the old-line media are not interested in recovery; they have recently demonstrated that their true interest lies in installing European-style Socialism before the American people wake up and catch onto their act ...."
....
"In the last 60 days, the Obama administration has authorized more spending than Bush did during all eight years combined.... "

(Note to In Business -- pay a couple of bucks for a fact-checker, even for your columnists. You'll be glad you did!)

Terrance then goes on to rail against Keynesian economics in general, calling for cutting government spending to get us out of the recession/depression/whatever.

As much as I love the Madison Public Library, I can sure think of one place where some reduced spending is in order. And I'm sure Terrance would agree. Just as I'm sure he agrees that he won't be seeking any city TIF or other financial assistance on this or any other of his projects. (Gotta stop that socialistic behavior asap, right, Terrance?).

You can engage Terrace in a dialogue on this at inbusinessmagazine.com. Could be fun.
Stu Levitan
Forum God/Goddess
 
Posts: 3227
Joined: Sat Feb 08, 2003 8:40 pm
Location: Studio B of the historic Abernathy Building

Re: T.Wall: Obama a Socialist

Postby Michael Patrick » Thu Apr 09, 2009 12:06 pm

Stu Levitan wrote:As much as I love the Madison Public Library, I can sure think of one place where some reduced spending is in order. And I'm sure Terrance would agree. Just as I'm sure he agrees that he won't be seeking any city TIF or other financial assistance on this or any other of his projects. (Gotta stop that socialistic behavior asap, right, Terrance?).


Irony is dead.
Michael Patrick
Forum God/Goddess
 
Posts: 3949
Joined: Wed Sep 03, 2003 8:56 am
Location: Around here somewhere

Re: T.Wall: Obama a Socialist

Postby ShaneDog » Thu Apr 09, 2009 12:27 pm

Did anyone else read David Horowitz's column calling right wingers out on the over-the-top hysterics and throwing around the term socialist everywhere to describe Obama's policies?

Picking apart Terrance Wall's writing on economics is like shooting fish in a barrel. It doesn't speak much to the magazine's credibility that they publish such things. It's not surprising though, pretty much every local and state business trade magazine has someone who has expressed the same sentiment.
ShaneDog
Forum God/Goddess
 
Posts: 4296
Joined: Tue Mar 12, 2002 2:46 pm
Location: E Wash

Re: T.Wall: Obama a Socialist

Postby acereraser » Thu Apr 09, 2009 12:59 pm

Holy cow, I knew I didn't agree with him politically, but I didn't realize just how full of himself T. Wall really is:
Being a student of history, having an economics degree and having read numerous books on the dozens of economic calamities this great nation of ours has endured over two centuries, I am fearful of where we are currently headed.


And then he uses that amassed body of knowledge to inform us that, sure, this may all be Little Bush's fault, but Wall thought Obama was smart enough to clean it up faster.

In this next quote is the key to renewed prosperity:
Why did the economy take off in the 1960s and again in the 1980s? The Kennedy and Reagan tax cuts, decreased regulation, more freedom and liberty; property rights being restored, free trade, etc.


Yes, deregulation is the key! Thanks for the tip! Free the traders! More credit default swap bullshit, immediately!

The problem, as well as the answer, ironically enough, is that T. Wall is rich, so he must be smarter than all the rest of you who are not.
acereraser
Forum God/Goddess
 
Posts: 1427
Joined: Mon May 02, 2005 8:42 pm

Re: T.Wall: Obama a Socialist

Postby Michael Patrick » Thu Apr 09, 2009 1:10 pm

A student of history with an economics degree who doesn't know history or economics.

Reagan didn't cut taxes, he raised them...

Reagan may have resisted calls for tax increases, but he ultimately supported them. In 1982 alone, he signed into law not one but two major tax increases. The Tax Equity and Fiscal Responsibility Act (TEFRA) raised taxes by $37.5 billion per year and the Highway Revenue Act raised the gasoline tax by another $3.3 billion.

According to a recent Treasury Department study, TEFRA alone raised taxes by almost 1 percent of the gross domestic product, making it the largest peacetime tax increase in American history. An increase of similar magnitude today would raise more than $100 billion per year.

In 1983, Reagan signed legislation raising the Social Security tax rate. This is a tax increase that lives with us still, since it initiated automatic increases in the taxable wage base. As a consequence, those with moderately high earnings see their payroll taxes rise every single year.

In 1984, Reagan signed another big tax increase in the Deficit Reduction Act. This raised taxes by $18 billion per year or 0.4 percent of GDP. A similar-sized tax increase today would be about $44 billion.

The Consolidated Omnibus Budget Reconciliation Act of 1985 raised taxes yet again. Even the Tax Reform Act of 1986, which was designed to be revenue-neutral, contained a net tax increase in its first 2 years. And the Omnibus Budget Reconciliation Act of 1987 raised taxes still more.


The above was written by that well-known dirty fucking hippie Bruce Bartlett.
Michael Patrick
Forum God/Goddess
 
Posts: 3949
Joined: Wed Sep 03, 2003 8:56 am
Location: Around here somewhere

Re: T.Wall: Obama a Socialist

Postby ShaneDog » Thu Apr 09, 2009 3:46 pm

The only tax right wingers generally care about is personal and corporate income tax.
ShaneDog
Forum God/Goddess
 
Posts: 4296
Joined: Tue Mar 12, 2002 2:46 pm
Location: E Wash

Re: T.Wall: Obama a Socialist

Postby minicat » Thu Apr 09, 2009 5:01 pm

acereraser wrote:
The problem, as well as the answer, ironically enough, is that T. Wall is rich, so he must be smarter than all the rest of you who are not.


Didn't he get started with daddy's money?
minicat
Forum God/Goddess
 
Posts: 4464
Joined: Mon Nov 04, 2002 2:22 pm

Re: T.Wall: Obama a Socialist

Postby sydgrl » Thu Apr 09, 2009 7:22 pm

I hope that he didn't get paid for that hot mess. Yikes. Classic case of Obama Derangement Syndrome.
sydgrl
Forum Addict
 
Posts: 188
Joined: Sun Oct 02, 2005 11:22 am

Re: T.Wall: Obama a Socialist

Postby HeyZeus » Thu Apr 09, 2009 10:41 pm

Reading anything T. Wall writes is a complete waste of time.

Terrence hates Madison, unless there's an extra million or two in it for him.
HeyZeus
Forum God/Goddess
 
Posts: 652
Joined: Sun Aug 19, 2007 1:52 pm

Re: T.Wall: Obama a Socialist

Postby fisticuffs » Fri Apr 10, 2009 8:10 am

Obama Derangement Syndrome


I believe the term is Baracknophobia.
fisticuffs
Forum God/Goddess
 
Posts: 7795
Joined: Sat Jul 24, 2004 2:49 pm
Location: Slightly outside of Madison

Re: T.Wall: Obama a Socialist

Postby Huckleby » Fri Apr 10, 2009 9:20 am

"He can claim that he inherited this economy, but the truth is that he turned the recession into a depression."


Wow, that was some quick work! At this rate, the whole world will be hunter-gatherers by August.
Huckleby
Forum God/Goddess
 
Posts: 6474
Joined: Thu Oct 20, 2005 5:12 pm
Location: parents' basement

Re: T.Wall: Obama a Socialist

Postby white_rabbit » Fri Apr 10, 2009 10:01 am

"He can claim that he inherited this economy, but the truth is that he turned the recession into a depression."



Hmmm...I just checked my 401K and it's in positive territory for the first time in 15 months. It's going to really suck for all these conservatives who are hoping for President Obama's policies to fail when they actually succeed.
white_rabbit
Forum God/Goddess
 
Posts: 7487
Joined: Wed Feb 05, 2003 11:44 pm

Re: T.Wall: Obama a Socialist

Postby fisticuffs » Fri Apr 10, 2009 10:12 am

Hmmm...I just checked my 401K and it's in positive territory for the first time in 15 months. It's going to really suck for all these conservatives who are hoping for President Obama's policies to fail when they actually succeed.


Yeah it's a pretty ballsy wager they are making. Aside from the completely biggoted brain washed Michigan Militia types any success by Obama could(should) spell the end of the Republican party.
fisticuffs
Forum God/Goddess
 
Posts: 7795
Joined: Sat Jul 24, 2004 2:49 pm
Location: Slightly outside of Madison

Re: T.Wall: Obama a Socialist

Postby madmatt77 » Fri Apr 10, 2009 10:15 am

The word "socialist" is definitely the word du jour in conservative circles. Too bad the lot of them don't see that we have been "socialist" in some sense of the word for a long time, to everyone's benefit. Republicans have nothing better to talk about, have no valid ideas, and so will use a word that is so charged just to get people to pay attention to them.

Without certain "socialist" policies, we would all be living very different lives. A few examples:

1) Social security - republicans have been after this for a while, but there is no denying how crucial this safety net is for our country. I don't know about you guys, but having to foot the bills for my retired parents doesn't sound like a particularly great idea for a strong economy.

2) Disability - Accidents at work happen, especially for our increasingly small number of employees who actually manufacture something. If Repubs had their way, these folks would be SOOL.

I can't blame older Repubs for getting so hysterical about socialism, after decades of right-wing propaganda and Communist fear-mongering, but the post-Cold War people should know better. You know what, it looks like they do:

Results of Rasmussen poll (04/09/09)http://www.upi.com/Top_News/2009/04/09/Poll-Capitalism-is-better-than-socialism/UPI-68861239324139/

"The poll found that adults under 30 are evenly divided on which system is better, while adults over 40 strongly favor capitalism."
madmatt77
Forum Addict
 
Posts: 144
Joined: Wed Jun 25, 2008 10:01 pm
Location: Madison

Re: T.Wall: Obama a Socialist

Postby white_rabbit » Fri Apr 10, 2009 10:20 am

madmatt77 wrote:
Without certain "socialist" policies, we would all be living very different lives. A few examples:

1) Social security - republicans have been after this for a while, but there is no denying how crucial this safety net is for our country. I don't know about you guys, but having to foot the bills for my retired parents doesn't sound like a particularly great idea for a strong economy.

2) Disability - Accidents at work happen, especially for our increasingly small number of employees who actually manufacture something. If Repubs had their way, these folks would be SOOL.



A few more successful socialist programs:

Medicaid/Medicare.
Public Education & Public Libraries.
Unemployment Compensation.
Federal, State and Local Park systems.
white_rabbit
Forum God/Goddess
 
Posts: 7487
Joined: Wed Feb 05, 2003 11:44 pm

Next

Return to Catch All

Who is online

Users browsing this forum: No registered users and 1 guest

moviesmusiceats
Select a Movie
Select a Theater


commentsViewedForum
  ISTHMUS FLICKR

Promotions Contact us Privacy Policy Jobs Newsletters RSS
Collapse Photo Bar